Use the following information for the Quick Study below. (Algo) (11-14) Skip to question [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 26 units for $25 each.

Purchases on December 7 16 units @ $10.00 cost

Purchases on December 14 33 units @ $15.00 cost

Purchases on December 21 26 units @ $18.00 cost